Woodford should forfeit his CBE, says TTF

They said the Woodford scandal has caused terrible harm to its victims.

In June 2013 in the 2013 Birthday Honours, Mr Woodford was appointed a Commander of the Order of the British Empire (CBE) for services to the economy.

Andy Agathangelou, founder of Transparency Task Force and co-founder of its Woodford Campaign, said: “Regardless of the qualities that led to Neil Woodford’s inclusion in the 2013 New Year’s Honours List, many would argue that his behaviour leading up to the closure of his flagship investment fund in 2019, and since, would surely not attract similar approbation.”

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Mr Agathangelou said that Mr Woodford’s actions left thousands of investors with significant losses, for many at a critical time in their lives as they approached retirement. He accused Mr Woodford of accepting no formal responsibility, and showing very little remorse and of having made no meaningful effort to remedy the situation.

Mr Agathangelou said Mr Woodford’s continuing to profit personally as the seriousness of the situation unfolded made him unworthy to continue holding the CBE.

Mr Agathangelou said: “Those that feel Neil Woodford’s CBE should be forfeited should write to Sir Chris Wormald, chair of the Forfeiture Committee, Cabinet Office, at honours@cabinetoffice.gov.uk, and explain the reasons why they believe his honour should be forfeited. And in addition to that they can support our petition.”

Recommendations for forfeiture are submitted through the Prime Minister to the King. If the King gives his approval, a notice of forfeiture is usually placed in the London Gazette. The petition calling for Neil Woodford’s CBE to be forfeited is here.

In April Mr Woodford wrote: “I am neither hero nor villain,” for the launch of his new website Woodford Views.

The launch came less than a week after the FCA published a warning notice on 11 April against Neil Woodford and Woodford Investment Management alongside its initial findings in relation to Woodford fund administrator Link Fund Solutions.

The regulator said that Mr Woodford had a “defective and unreasonably narrow” understanding of his responsibilities for managing liquidity risks. It warned it was considering regulatory action.

Mr Woodford and his company Woodford Investment Management are to challenge the FCA’s findings on the management of liquidity for the Woodford Equity Income Fund, according to their lawyers.

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